Bangladesh moves to adopt IFRS 18 and sustainability disclosure standards
Bangladesh’s Financial Reporting Council (FRC) has launched a pre-publication consultation on the adoption of IFRS 18 Presentation and Disclosure in Financial Statements, IFRS 19, and the International Sustainability Standards Board (ISSB) standards IFRS S1 and IFRS S2. While the standards are currently required for banks and financial institutions, the FRC is proposing to extend the requirements to all listed companies.
Bangladesh Bank had already taken steps toward IFRS S1 and S2 adoption in the financial sector, and this extension to all listed companies would substantially broaden the scope of both sustainability and structured financial reporting across the country’s capital markets. It’s also an indicator that Bangladesh is aiming to align its national framework with international norms, to attract further international investment and support global comparability.
Bangladesh is also separately working on adopting XBRL reporting, which makes this broader standards adoption very helpful: the foundations being laid now will shape how these disclosures are structured and consumed in the years ahead.
The pre-publication notice is open for comment via the FRC Bangladesh website.
Read more here (in English and Bengali).
